Bank Dearness Allowance @ 76.10% of pay for the months of May Jun and Jul 2020

Bank Dearness Allowance @ 76.10% of pay for the months of May, Jun and Jul 2020

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2020/01

May 1, 2020

All Members of the Association

(Designated Officers)

Dear Sir/ Madam,

Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2020 under X BPS/ Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960=100) for the quarter ended March 2020 are as follows:-

January 2020 – 7532.55
February 2020 – 7486.90
March 2020 – 7441.24

The average CPI of the above is 7486.90 and accordingly the number of DA slabs are 761 (7486 – 4440= 3046/4= 761 Slabs) The last quarterly Payment of DA was at 759 Slabs. Hence there is an increase in DA slabs of 2 i.e. 761 Slabs for payment of DA for the quarter May, June & July 2020

In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the months of May, June & July 2020 shall be 76.10 % of `pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,

S.K Kakkar

Senior Advisor (HR & IR)